SET President Pakorn Peetathawatchai said that SET, as one of the core organizations of the Thai capital market, realizes the necessity of adapting business operation in response to the change in the age of digital disruption, and the importance of partnership with local and foreign experts. Apart from business scope expansion of the capital market's stakeholders to grow together, such tie-up will enable them and SET to learn and seek opportunities to be successful in this digital world.
The SET Board of Governors (BoG) has approved the investment in ICHX Tech Pte. Ltd. (ICHX), the owner of ADDX (https://addx.co) platform, which provides the end-to-end digital securities exchange service. SET has poured money into ICHX's Pre-Series B funding round to become a shareholder together with the company's existing shareholders including Singapore Exchange (SGX) and Temasek Holdings investment arm Heliconia Capital Management Pte. Ltd.
With the investment, SET is entitled to appoint a representative for ICHX's board seat. This also opens a great opportunity to develop new financial products to serve the needs of investors and relevant parties in the capital market. Moreover, SET can study the practice guidelines of international regulators in order to shape Thai Digital Assets Exchange (TDX) set to be launched in the third quarter of this year.
SET expects that this cooperation will be an instrumental in modernizing and internationalizing the Thai digital asset market to attract global investors.
Source: The Stock Exchange of Thailand